Elon Musk's Tesla could soon be the owner of one of the other companies he co-founded, Solar City. Musk is currently the chairman of the board of Solar City and the company is run by his cousin. Solar City currently has around $3 billion in debt. The companies have worked together in the past:

Tesla has previously partnered with SolarCity on energy-related business, and Elon Musk was a co-founder of the energy company, which is run by his cousin. Musk is also Chairman of the SolarCity board, and the largest shareholder of both companies. SolarCity is not profitable as of its most recent earnings report, but hopes to be by the end of the year.

Read the full article over at The Verge by clicking on the link below.

Read more >